The arrests follow last month’s raids on Barclays Premier League club Birmingham as part of an ongoing inquiry by the City of London Police’s economic crime unit.

Detectives have confirmed questioning a 59-year-old man and a 39-year-old woman on suspicion of conspiracy to defraud and false accounting.

They were later released on bail.

A further seven people, believed to include Portsmouth boss Harry Redknapp, remain on bail in connection with the inquiry.